{"id":6720,"date":"2017-08-14T15:48:07","date_gmt":"2017-08-14T19:48:07","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?p=6720"},"modified":"2023-07-24T13:25:16","modified_gmt":"2023-07-24T17:25:16","slug":"rent-stabilized-apartments-in-nyc-a-real-thing-or-a-myth","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/rent-stabilized-apartments-in-nyc-a-real-thing-or-a-myth\/","title":{"rendered":"Rent-Stabilized Apartments in NYC: Real or Myth?"},"content":{"rendered":"

If you live in New York City.<\/a> or any other big city, and you’re a renter, getting a rent-stabilized apartment is like winning the lottery. Why? Because rent-stabilized apartments have perks for tenants that include a guaranteed chance to renew your lease and a limit on how much your landlord can increase rent each year. <\/span>The percentage\/amount that the landlord can increase often can change as the rent guidelines board meets every year to discuss it. The price of these rent-stabilized apartments can vary a lot, but they’re often under $2500 a month, as the units can often be deregulated once rent goes above that number. So while people from other parts of the country may be shocked at that price, that is actually very cheap for New York City.<\/span><\/p>\n

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What are the Requirements for a Rent-Stabilized Apartment?<\/h2>\n

However, there are some rules for which apartments can be rent stabilized<\/a>. This stabilization often applies to buildings of six or more units that was built sometime before 1974 and is not currently subject to rent control. So in a city with as much history and old buildings as New York City, that means quite a few apartments in the area are rent stabilized. <\/span><\/p>\n

50% of Manhattans<\/a>‘ apartments have stabilized rents. <\/span>If that is the case, why are they so hard to find? That is because once people have them, they never want to leave them. To be honest, can you blame them? Most renters living in these apartments save thousands of dollars a year when compared to their peers, who are often paying exorbitant rental fees. In fact, rent stabilized apartments in Manhattan are usually one thousand dollars less than a market-rate apartment.<\/span><\/p>\n

Five Tips to Find a Rent-Stabilized Apartment in New York City<\/h2>\n

Now, this might seem too good to b<\/span>e sure, but we can assure you, rent-stabilized apartments are not a myth. These apartments are real and can be found out there if you know how and where to look. However, with many people not leaving rent-stabilized apartments once they have them, tracking one down can be difficult. With that in mind, here are a few different tips and tricks that you can use to find them. Remember, these tips will by no means guarantee that you will find a rent stabilized apartment, but they can definitely help your chances.<\/span><\/p>\n

1. Walk Around<\/h3>\n

As you could imagine, landlords with rent stabilized apartments have no problem finding a tenant. As a result, these apartments are not often advertised a lot. So instead of scouring the online listings, you might be better off hitting the streets and walking around town and seeing what you can see. However, there is one source you will want to check out, and it is the Rent Guidelines Board\u2019s comprehensive list of all the applicable apartment buildings. Also, some neighborhoods will have a higher concentration of these apartments than others, so be sure to check out this document for more information on that. <\/span><\/p>\n

Learn more:<\/p>\n